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Adnoc Logistics & Services raises 2026 outlook as shipping strength fuels profit growth
Net profit is now expected to rise in the high-60% range, a sharp increase from the previously anticipated mid-to-high teens growth
- PUBLISHED: Mon 29 Jun 2026, 2:27 PM
Adnoc Logistics & Services (Adnoc L&S) on Monday upgraded its full-year 2026 financial guidance after a stronger-than-expected performance in the first half of the year, driven by continued momentum in its shipping business and improving activity across its offshore logistics operations.
The Abu Dhabi-listed maritime and energy logistics company said it now expects revenue to record low single-digit growth in 2026, reversing its previous forecast for a low-to-mid single-digit decline. The company also significantly increased its profitability outlook, forecasting earnings before interest, taxes, depreciation and amortisation (Ebitda) growth in the high-20 per cent range compared with earlier guidance for mid-to-high single-digit growth. Net profit is now expected to rise in the high-60 per cent range, a sharp increase from the previously anticipated mid-to-high teens growth.
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The revised outlook reflects stronger year-to-date trading and assumptions that market conditions in the shipping sector will remain supportive for the remainder of the year. Adnoc L&S said its Shipping segment continues to benefit from favourable regional dynamics, which have supported earnings during the second quarter.
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The company also reported improving conditions in its Offshore Contracting division, where its Integrated Logistics Services Platform (ILSP) has experienced a gradual increase in material handling volumes. Adnoc L&S said the upgraded guidance incorporates higher activity levels within the ILSP business while maintaining previous assumptions for its jack-up barge fleet.
The guidance revision comes after a solid start to the year. In its first-quarter results, Adnoc L&S reported increased earnings supported by contributions from its diversified fleet and logistics businesses, reinforcing management’s confidence in the company’s growth trajectory.
The outlook upgrade follows a strong first quarter in which Adnoc L&S delivered robust growth across its core businesses. The company reported a 20 per cent year-on-year increase in net profit to $222 million for Q1 2026, with Ebitda up seven per cent to $368 million. Management at the time highlighted strong utilisation across its shipping operations and a healthy project pipeline in integrated logistics, providing confidence that momentum would continue through the remainder of the year and underpin the company’s longer-term growth strategy.
The company has also continued to benefit from its strategic positioning within Adnoc’s broader expansion plans and growing demand for energy shipping and logistics services across international markets.
Adnoc L&S said its capital expenditure plans, leverage targets and dividend policy remain unchanged and continue to align with its established capital allocation framework.
Investors will be watching closely when Adnoc L&S reports its second-quarter and first-half 2026 results on August 11, seeking further evidence that strength in shipping markets and logistics operations can be sustained through the rest of the year.
Associate Editor Somshankar Bandyopadhyay brings more than three decades of experience to the KT newsroom. Currently, he manages the news production of the business section, ensuring that the top economic and business news of the day reaches its readers.